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The New Confessions of an Economic Hit Man

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John Perkins' 'The New Confessions of an Economic Hit Man' delves into the author's experiences as an economic hitman, pressuring presidents of poor countries into signing exorbitant contracts with major US construction companies, ultimately leading to financial and environmental exploitation. The book explores the aftermath of World War II, detailing how the United States and the Soviet Union emerged as global powers, initiating the Cold War and the birth of economic hitmen. Through specific examples like Ecuador and Panama, Perkins sheds light on the detrimental impact of capitalism and the manipulation of developing nations for economic gain.

Writing/Prose:

The writing style is clear and engaging, making complex financial concepts accessible to a broad audience.

Plot/Storyline:

The narrative investigates how economic hit men exploit developing countries under the guise of aid, detailing the long-term consequences of debt and manipulation.

Setting:

The setting spans multiple countries and historical contexts, primarily focusing on the impacts of U.S. economic policies abroad.

Pacing:

The pacing is dynamic, balancing between engaging personal anecdotes and more detailed economic discussions.
I’m haunted every day by what I did as an economic hit man (EHM). I’m haunted by the lies I told back then about the World Bank. I’m haunted by the ways in which that bank, its sister organizations, a...

Notes:

The federal student loan program mirrors the schemes Perkins describes, trapping young adults in debt.
After graduating, many individuals struggle to pay off student loans due to poor job prospects.
In 2019, the U.S. federal debt was nearly $23 trillion, while student loan debt totaled around $1.5 trillion.
Corporations like Amazon and Apple often pay minimal taxes, which could fund education and healthcare.
Economic Hit Men, like Perkins, pressure leaders in poorer countries to sign unsustainable contracts with U.S. firms.
After signing loans, these countries were often left in poverty as debt continued to rise while profits were siphoned off by banks.
If leaders refused loans or contracts, they faced extreme consequences, such as assassination or coup d'état.
The U.S. used the threat of communism to justify economic manipulation in developing countries after WWII.
Perkins argues for a shift away from a 'death economy' focused on greed, towards a 'life economy' based on compassion and sustainability.
The CIA has a history of toppling democratically elected leaders in Latin America to maintain American economic interests.

Sensitive Topics/Content Warnings

Content warnings include discussion of violence, political assassination, exploitation, and systemic corruption.

From The Publisher:

Former economic hit man John Perkins shares new details about the ways he and others cheated countries around the globe out of trillions of dollars. Then he reveals how the deadly EHM cancer he helped create has spread far more widely and deeply than ever in the US and everywhere else-to become the dominant system of business, government, and society today. Finally, he gives an insider view of what we each can do to change it.

Economic hit men are the shock troops of what Perkins calls the corporatocracy, a vast network of corporations, banks, colluding governments, and the rich and powerful people tied to them. If the EHMs can't maintain the corrupt status quo through nonviolent coercion, the jackal assassins swoop in. The heart of this book is a completely new section, over 100 pages long, that exposes the fact that all the EHM and jackal tools-false economics, false promises, threats, bribes, extortion, debt, deception, coups, assassinations, unbridled military power-are used around the world today exponentially more than during the era Perkins exposed over a decade ago.

As dark as the story gets, this reformed EHM also provides hope. Perkins offers specific actions each of us can take to transform what he calls a failing Death Economy into a Life Economy that provides sustainable abundance for all.

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About the Author:

John Perkins has written nine books that have been on the New York Times bestseller list for more than seventy weeks and translated into over thirty languages.

 
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